American Bankers Association
(ABA) president and CEO Edward Yingling will retire from his role on Dec. 31, 2010, but plans to remain active in the banking industry.
The ABA created a search committee composed of board members and former association officers to consider both internal and external candidates for Yingling's replacement.
"After 25 years at ABA, I believe this is the best time to create the opportunity for new leadership," Yingling said in a statement. "Leaving ABA at the end of a Congress and with sufficient time to implement a succession plan will ensure the best possible transition."
In addition to working on legislation and regulation, Yinging -- 61 -- may return to practicing law, ABA said. He agreed to consult with ABA on business, regulatory and legislative matters after he retires, according to ABA chairman Arthur Johnson.
"Last December, Ed informed the ABA Executive Committee that he wished to begin the planning process for his retirement at the end of 2010," Johnson said. "For 25 years, first as head of government relations and then as president and CEO, Ed has led the banking industry in Washington through many challenges."
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